Maruti Suzuki Q3 PAT jumps 4% YoY to Rs 3,879 crore despite margin pressure

Maruti Suzuki India (MSIL) reported a 4.08% YoY rise in net profit to Rs 3,879.1 crore in Q3 FY26, compared with Rs 3,726.9 crore in Q3 FY25.

The auto major said that net profit was impacted by a one-time cost of Rs 593.9 crore on account of the new labour codes.

Total revenue from operations rose 28.74% YoY to Rs 49,904.1 crore, driven by a sharp recovery in the Indian car market led by the small car segment. During the quarter, MSIL recorded its highest-ever quarterly domestic sales of 5,64,669 units, compared with 4,66,993 units a year earlier.

The small car segment in the 18% GST bracket accounted for 68,328 units of incremental volumes. Total sales stood at a record 667,769 units, including exports of 103,100 units.

 

Profit before tax (PBT) increased 4.0% YoY to Rs 4,917.3 crore in Q3 FY26 from Rs 4,726.0 crore a year ago. Operating EBITDA rose 10% YoY to Rs 5,571.7 crore; however, the EBITDA margin contracted to 11.7% from 13.8% in Q3 FY25 due to higher input and employee costs.

Total expenses jumped 31.18% YoY to Rs 46,127.3 crore in Q3 FY26. Purchase of stock in trade was at Rs 5,853.9 crore (up 24.32% YoY), and employee benefit expenses stood at Rs 2,700.9 crore (up 51.18% YoY).

During the quarter, Suzuki Motor Gujarat was amalgamated with Maruti Suzuki with effect from 1 December 2025. Accordingly, the financial statements have been restated from 1 April 2025, the appointed date under the scheme of amalgamation.

Maruti Suzuki India is engaged in the manufacture, purchase, and sale of motor vehicles, components, and spare parts (automobiles).

Shares of Maruti Suzuki India declined 2.43% to close at Rs 14,871 on the BSE.

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